Verus Capital Partners LLC Lowers Holdings in Fiserv, Inc. (NYSE:FI)

Verus Capital Partners LLC cut its holdings in Fiserv, Inc. (NYSE:FI) by 3.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,546 shares of the business services provider’s stock after selling 59 shares during the period. Verus Capital Partners LLC’s holdings in Fiserv were worth $318,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in FI. Sanders Capital LLC purchased a new stake in shares of Fiserv during the 3rd quarter worth approximately $764,543,000. FMR LLC raised its holdings in shares of Fiserv by 17.8% during the 3rd quarter. FMR LLC now owns 9,442,476 shares of the business services provider’s stock worth $1,696,341,000 after acquiring an additional 1,427,664 shares in the last quarter. Kovitz Investment Group Partners LLC raised its holdings in shares of Fiserv by 788.7% during the 3rd quarter. Kovitz Investment Group Partners LLC now owns 632,554 shares of the business services provider’s stock worth $109,700,000 after acquiring an additional 561,377 shares in the last quarter. Mizuho Securities USA LLC raised its holdings in shares of Fiserv by 1,238.6% during the 3rd quarter. Mizuho Securities USA LLC now owns 603,887 shares of the business services provider’s stock worth $108,488,000 after acquiring an additional 558,774 shares in the last quarter. Finally, Proficio Capital Partners LLC raised its holdings in shares of Fiserv by 30,479.9% during the 4th quarter. Proficio Capital Partners LLC now owns 484,997 shares of the business services provider’s stock worth $99,628,000 after acquiring an additional 483,411 shares in the last quarter. 90.98% of the stock is owned by hedge funds and other institutional investors.

Fiserv Price Performance

Shares of FI stock opened at $235.67 on Friday. Fiserv, Inc. has a twelve month low of $145.98 and a twelve month high of $237.99. The stock has a market capitalization of $132.28 billion, a price-to-earnings ratio of 43.72, a P/E/G ratio of 1.52 and a beta of 0.94. The stock has a fifty day simple moving average of $216.68 and a two-hundred day simple moving average of $201.08. The company has a current ratio of 1.06, a quick ratio of 1.07 and a debt-to-equity ratio of 0.86.

Fiserv (NYSE:FI) last issued its earnings results on Wednesday, February 5th. The business services provider reported $2.51 earnings per share for the quarter, topping the consensus estimate of $2.48 by $0.03. Fiserv had a return on equity of 17.93% and a net margin of 15.31%. On average, analysts predict that Fiserv, Inc. will post 10.23 EPS for the current fiscal year.

Fiserv announced that its Board of Directors has authorized a share repurchase program on Thursday, February 20th that authorizes the company to buyback 60,000,000 shares. This buyback authorization authorizes the business services provider to repurchase shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

Several analysts have recently issued reports on FI shares. Susquehanna upped their price objective on Fiserv from $230.00 to $270.00 and gave the stock a “positive” rating in a report on Monday, February 10th. Royal Bank of Canada boosted their target price on Fiserv from $255.00 to $270.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Seaport Res Ptn raised Fiserv from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 14th. Wells Fargo & Company boosted their target price on Fiserv from $240.00 to $270.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. Finally, StockNews.com downgraded Fiserv from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Three investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $239.83.

Insiders Place Their Bets

In related news, COO Guy Chiarello sold 45,000 shares of the company’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $235.55, for a total transaction of $10,599,750.00. Following the completion of the sale, the chief operating officer now directly owns 227,711 shares in the company, valued at $53,637,326.05. This represents a 16.50 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 0.75% of the company’s stock.

About Fiserv

Fiserv, Inc, together with its subsidiaries, provides payments and financial services technology services in the United States, Europe, the Middle East and Africa, Latin America, the Asia-Pacific, and internationally. It operates through Merchant Acceptance, Financial Technology, and Payments and Network segments.